Overseas Trade
(asked on 18th September 2023) - View Source
Question to the Department for Business and Trade:
To ask His Majesty's Government what steps they have taken to protect UK businesses from potentially being locked out of new markets created by the Inflation Reduction Act in the absence of a free trade agreement with the United States of America.
Answered by
Lord Offord of Garvel
Parliamentary Under Secretary of State (Department for Business and Trade)
This question was answered on 2nd October 2023
We have been working with the U.S. on the Inflation Reduction Act including through negotiations on a Critical Minerals Agreement.
UK firms are already part of U.S. supply chains, and we are a net exporter of raw materials for batteries to the U.S. This agreement will support UK based firms to continue to supply the large U.S. market for these materials.